CW Petroleum Corp (OTCQB: CWPE) Reports Fiscal Semiannual Period Ending June 30, 2024

Rhea-AI Summary

CW Petroleum Corp (OTCQB: CWPE) has released its unaudited financial results for the fiscal semiannual period ended June 30, 2024. The company, a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, reported revenues of approximately $4.0 million and an EBITDA of $109,508 for the six-month period. CEO Christopher Williams emphasized the company's continued strong quarterly revenues from sales of renewable and hydrocarbon motor fuels.

CWPE is actively seeking investment capital from investment banks and private equity to fund acquisition targets, aiming to expand its operations within Texas and other U.S. markets. Additionally, the company is searching for a Sole Book Runner to assist with an IPO and potential uplisting to the NYSE.

Positive

• Revenues of approximately $4.0 million for the six-month period
• Positive EBITDA of $109,508
• Continued strong quarterly revenues from fuel sales
• Actively seeking investment capital for expansion and acquisitions
• Exploring IPO and NYSE uplisting possibilities

Negative

• None.

Katy, Texas, Aug. 26, 2024 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announced unaudited financial results for the fiscal semiannual period ended June 30, 2024.

Key Financial Highlights for Six Months Ended June 30, 2024.

• 2024 Revenues of ~$4.0 Million
  
• 2024 EBITDA of $109,508
  

Management Commentary:

Chief Executive Officer Christopher Williams commented, “The company continues to generate strong quarterly revenues from sales of renewable and hydrocarbon motor fuels.”

Report: SEC Form 1-SA

Detailed information about the Company OTCQB Markets at:

CWPE Overview
CWPE Security Detail
CWPE Financials
CWPE News
CWPE Disclosures

SEC Filings

The Company continues to seek investment capital from investment banks/private equity needed for acquisition targets to grow and expand its renewable and hydrocarbon motor fuels inside the State of Texas and other markets within the U.S.A. The Company continues to search for a Sole Book Runner to assist the Company with an IPO and up list to NYSE.

For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com, or call 281-817-8099

About CW Petroleum Corp

CW Petroleum Corp was incorporated in the State of Texas on April 29, 2005, and began operations in 2011. On April 14, 2018, CW Petroleum Corp was incorporated in the State of Wyoming. On April 15, 2018, the Texas corporation became a wholly-owned subsidiary of the Company through a share exchange. CW Petroleum Corp (Wyoming) is a holding company and through our wholly-owned subsidiary, we supply and distribute biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no ethanol gasoline to distributors, convenience stores, and marinas.

Forward-Looking Statements

Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

FAQ

What were CW Petroleum Corp's (CWPE) key financial results for the first half of 2024?

CW Petroleum Corp (CWPE) reported revenues of approximately $4.0 million and an EBITDA of $109,508 for the six-month period ended June 30, 2024.

Is CW Petroleum Corp (CWPE) planning to expand its operations?

Yes, CWPE is seeking investment capital to fund acquisition targets and expand its renewable and hydrocarbon motor fuels business in Texas and other U.S. markets.

What are CW Petroleum Corp's (CWPE) plans for going public?

CWPE is searching for a Sole Book Runner to assist with an Initial Public Offering (IPO) and potential uplisting to the New York Stock Exchange (NYSE).

What types of fuels does CW Petroleum Corp (CWPE) specialize in?

CW Petroleum Corp specializes in Specialty Renewable and Hydrocarbon Motor Fuels.